LINEDATA SERVICES : Linedata Agrees to Acquire CapitalStream, significantly
strengthening its Position in North America and the Credit and Finance
PARIS, February 14, 2013: Linedata (Nyse Euronext: LIN) has agreed to acquire
HCL Technologies' CapitalStream business and enter into a strategic
partnership with HCL Technologies Ltd. The transaction is expected to close
before the end of Q1 2013.
Linedata is one of the leading providers of software and services to the
credit and financing industries in Europe and Africa. Linedata has also
developed a significant presence in North America in the asset management
Acquisition of CapitalStream
CapitalStream is a market leading software platform that offers a
sophisticated suite of credit lifecycle management solutions to the financial
services industry. It has a fast-growing client portfolio of prestigious
banking and other financial institutions in North America. Revenues for their
last financial year ending June 2012, expressed in U.S. GAAP, amounted to $ 30
million. The Company employs approximately hundred employees in the USA
(Seattle, WA & Irvine, CA)
As part of the acquisition, Linedata would acquire all the assets and
associated liabilities for a sum of $45 million. The transaction will be
financed by an extension of an existing bank loan with a pool of banks.
Following the transaction, debt ratios will remain at a reasonable level and
the leverage ratio (net debt post-closing / consolidated EBITDA) will be less
This combination will enable Linedata to offer a uniquely powerful and
comprehensive set of applications for North America and the global
HCL Technologies, the long standing owner of CapitalStream,is a leading global
technology and IT services company. This agreement reflects HCL's core
strategy of joining hands with product companies to offer transformational
services to its clients. Through this partnership, Linedata will be able to
reinforce its services offering to support CapitalStream clients in all of
their major IT projects.
Anvaraly Jiva, Founder and CEO of Linedata, says: "I am very pleased to
welcome this highly talented team and prestigious client base to Linedata.
This acquisition will extend our ability to provide end-to-end solutions to
the credit and finance industry globally. The partnership with HCL will
substantially improve our ability to engage in very large projects with our
clients. Linedata's presence in North America, a key to our global growth,
will be significantly expanded".
Next communication: publication of 2012 annual results on February 28, 2013
after close of trading.
Linedata is a global solutions provider with 700 clients operating in 50
countries. With more than 900 employees across the globe, Linedata is
dedicated to the investment management and credit community. Linedata has been
at the service of the financial industry from day one, and applies its market
and client insight to provide innovative and tailored mission-critical
software and services that help its clients grow. As a pioneer for over 10
years with the set-up of SaaS infrastructure for the financial industry,
Linedata has preached and spread this model throughout the global financial
community, for its full range of products. Headquartered in France, Linedata
achieved revenues of EUR 144 million in 2012. This company is listed on
Euronext Paris FR0004156297-LIN - Reuters LDSV.LN - Bloomberg LIN:FP.
For further information, please contact:
Linedata Cap Value
Finance Department Financial communication
+33 (0)1 47 77 68 39 Gilles Broquelet / Samuel Beaupain
email@example.com +33 (0)1 80 81 50 00
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Source: LINEDATA SERVICES via Thomson Reuters ONE
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